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- Sep 30, 2012
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It is based upon assumptions as I have pointed out. Please tell me how much revenue to the Federal govt. 23 million unemployed/under employed/discouraged workers generates?
depends on how much money as a group they spend surviving. I assume that the businesses they patronize pay taxes. Might be interesting to actually investigate that.
Do you understand economic growth at all? Do you understand that we won't have a 3.8 trillion dollar budget under Romney? Do you have any concept of how much govt. the people of this country need when they keep more of what they earn? Do you understand that in 2007 the U.S. Treasury collected a record amount of tax revenue?
I absolutely understand the role of growth. If you had bothered to examine the link I gave you, it assumes a 8.1% growth rate. I'd say that was pretty spectacular growth. the projection includes the tax breaks/adjustments that romney has proposed and the increased revenue that the growth rate would generate. Do you understand economic modelling at all?
And as for 2007's record amount of tax collected, you are aware that this was the pinnacle before the bubble burst? Unsustainable growth in home owner equity, excellent stock market performance, record (at the time) corporate profits, Wall st running amok and a variety of other variables that considering you insistance on vast economic and business knowledge would be taken into your picture of what actually happened. To attribute that revenue increase solely to tax cuts is disengenuous because I know you are aware of all of this.
All this effort on your part continues to divert from the Obama record. He took office on a hope and change message with no specifics. Now people are demanding specifics from Romney while ignoring history of what pro growth economic policies generate for the govt.
Nope. Obama's record is about as expected given the circumstances which apparently you are perfectly content to completely ignore. I am not ignoring a "pro-growth" economic policy, what I am asking is what does Mr. Etchasketch mean when he spouts such a platitude? What are the implications of those as warm and fuzzy policies and the rules and regulations that will surround such? It seems if anyone has a simplistic perpsective on economic growth in a global economy its you.
Come on, tell us all the wonderful things other than a tax code overhaul, reduced capital gains, elimination of estate taxes, dividends reverted to capital gains, etc aren't going to substantially reduce the riches tax burden? Tell us all how middle income earners will not be effected by closing "various as yet undefined" tax "loopholes".
It just ain't nearly as simple as you make it sound and obviously as you would like the gullible to believe. I know you don't believe it as us old business hands have built hundreds of budgets and sales projections and understand the negative effects of getting just a few assumptions wrong.
Most recently we have the Obama projections that failed to take into account the severity of the global situation, the intractability of the republicans in congress after 2008, and big business refusing to re-invest any of their $5 trillion in cash that they are currently sitting on due to record corporate profits in each of the past four years. The result - failed expectations all the way around - not to mention cheap political fodder for the opposition as they completely ignore their own little contribution to the outcome.